The real estate mogul explains why waiting for interest rates to drop could mean missing your chance to find the right home.
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LifestyleTranscript
00:00From my perspective, it's always the right time to buy the house because prices have traditionally always gone up.
00:05People are hesitating because of interest rates.
00:07But the real reason people are hesitating right now is because people don't want to sell their house.
00:12Two-thirds of America have interest rates under 4%, and that's why the market is choked.
00:17And there's just not enough listings to go around.
00:19I think if interest rates were to lower a little bit, maybe another point, we would have an incredible housing market.
00:25Thank God people aren't putting their homes on the market so much because it's helping house prices continually go up.
00:30Some people believe that interest rates are going to go up.
00:32Some people believe that they're going to come down.
00:34But what you should be doing is focusing on the most important thing, finding a house, because it ain't easy.